SEC.gov | FASB Issues Proposed Update for Future* Version of U.S. GAAP Financial Reporting Taxonomy Related to Proposed ASU on the Accounting for Interest Rate and Net Investment Hedging
This update concerns accounting taxonomy standards and XBRL reporting infrastructure for SEC filers, which is administrative and procedural in nature rather than addressing any specific financial product or service category.
No secondary financial services category applies; this is purely a technical accounting and reporting standards update with no connection to banking, lending, investment, or digital asset products.
Specialism
The update mandates changes to XBRL-structured financial reporting taxonomy and submission requirements for SEC filers, which constitutes a regulatory reporting obligation.
Mandatory inheritance: Regulatory Reporting is a child of Supervision, so Supervision must be raised as the secondary tag.
Keywords
DERA What's new,EDGAR,US GAAP,FASB,XBRL taxonomies
2026-06-25 14:58:49·pdonofrio@vixio.com
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TITLE: U.S. Securities and Exchange Commission Announces Proposed Update to GAAP Financial Reporting Taxonomy
BODY:
On June 25, 2026, the U.S. Securities and Exchange Commission (SEC) announced that the Financial Accounting Standards Board (FASB) published a proposed update to the U.S. Generally Accepted Accounting Principles (GAAP) Financial Reporting Taxonomy. The proposed update relates to a Proposed Accounting Standards Update (ASU) on Derivatives and Hedging (Topic 815) addressing targeted improvements to accounting for interest rate risk hedging and net investment hedging.
The proposed taxonomy update includes reference modifications, new elements for ASU identification, and deprecation for guidance that is no longer applicable. These changes are designed to ensure the taxonomy accurately reflects the proposed accounting standards and facilitates consistent eXtensible Business Reporting Language (XBRL)-structured financial reporting. The update is applicable to SEC filers, investors, analysts, software service providers, and other market participants who prepare or use XBRL-structured financial statements. The SEC emphasises that only annual compilations of the U.S. GAAP Financial Reporting Taxonomy specified on the Commission's website may be used in SEC XBRL submissions, ensuring standardisation across filings.
The public comment period on the proposed taxonomy update ends on August 17, 2026, and comments should be submitted directly to the FASB. The SEC encourages all interested parties to participate in this public review to improve the process for creating and using XBRL-structured financial statements. The SEC notes that the availability of the proposed update for public comment does not indicate Commission approval of any potential regulatory changes related to the Electronic Data Gathering, Analysis and Retrieval (EDGAR) Filer Manual. The taxonomy version for proposed updates will be determined based on the effective date of each final Accounting Standards Update.
SEC.gov | FASB Issues Proposed Update for Future* Version of U.S. GAAP Financial Reporting Taxonomy Related to Proposed ASU on the Accounting for Interest Rate and Net Investment Hedging Skip to search field Skip to main content Official websites use .gov A .gov website belongs to an official government organization in the United States. Secure .gov websites use HTTPS A lock ( Lock A locked padlock ) or https:// means you’ve safely connected to the .gov website. Share sensitive information only on official, secure websites. More in this Section Announcement FASB Issues Proposed Update for Future* Version of U.S. GAAP Financial Reporting Taxonomy Related to Proposed ASU on the Accounting for Interest Rate and Net Investment Hedging June 25, 2026 The Financial Accounting Standards Board (FASB) has published a proposed update to the U.S. Generally Accepted Accounting Principles (GAAP) Financial Reporting Taxonomy related to the Proposed Accounting Standards Update (ASU) on Derivatives and Hedging (Topic 815) – Targeted Improvements to Accounting for Interest Rate Risk Hedging and Net Investment Hedging . The proposed taxonomy update would include reference modifications, new elements for ASU identification, and deprecation for guidance that is no longer applicable. The public comment period on the proposed update ends on August 17, 2026. Comments should be submitted directly to the FASB . The SEC staff encourages filers, investors, analysts, software service providers, and other interested parties to participate in this public review to continue to improve the process for creating and using eXtensible Business Reporting Language (XBRL)-structured financial statements. Only annual compilations of the U.S. GAAP Financial Reporting Taxonomy that are specified on the Commission’s website may be used in SEC XBRL submissions. The availability for public comment of the proposed U.S. GAAP Financial Reporting Taxonomy update does not indicate Commission approval of any potential regulatory changes related to the Electronic Data Gathering, Analysis and Retrieval (EDGAR) Filer Manual. Please refer to the SEC’s EDGAR webpage for updated information on when the Commission approves changes, if any, related to the EDGAR Filer Manual. *The taxonomy version for proposed updates related to proposed Accounting Standards Updates will be determined based on the effective date of each final Accounting Standards Update. Last Reviewed or Updated: June 25, 2026